JSA and Khaitan & Co have counselled on Singapore-headquartered Everstone Capital’s USD270 million investment in the drugmaker Apothecon Group, comprising India’s Apothecon Pharmaceuticals and US-based Navinta. DLA Piper, Troutman Pepper Locke and Brown & Connery also advised on the transaction.
Partners Sidharrth Shankar, Nandini Seth and Aditya Vardhan Dayal led the JSA team, representing Apothecon Pharmaceuticals, and its founders Mahendra Patel and Joe Renner.
Principal associate Nabarun Ray, senior associate Pranav Rao N, as well as associates Aditya Sinha, Rahul Nayyar and Aaryan Pandit assisted the team. Partner Dheeraj Nair led on the regulatory matters. US-based firms Troutman Pepper Locke and Brown & Connery acted as international counsel for the JSA team.
“It was a particularly engaging transaction given the various jurisdictions involved, and the counsel across jurisdictions (India, US, Mauritius). We have been involved in the transaction since its inception,” said Shankar.
“One of the key highlights was co-ordinating across jurisdictions and counsel, while maintaining a consistent approach to the output.
“Given the local manufacturing operations, we had to carefully navigate the legal/regulatory requirements along with the acquirer’s expectations – including FEMA, pharma regulatory, and real estate aspects. We worked holistically together with the founders, the target business, and the acquirer to address these complexities and align on key aspects to bring the transaction to a successful conclusion.”
Khaitan & Co advised Everstone Capital, while DLA Piper acted as the US adviser.
